Christie's And Bonhams Increase Buyer's Fees

(MENAFN- USA Art News) Both Christie's and Bonhams have quietly implemented increases to the fees charged to buyers, known as buyer's premiums. These charges are added to a lot's hammer price and represent a significant revenue stream for auction houses.

Effective September 1, Christie's new fee structure applies to all departments except wine. Buyers will pay 28% on the hammer price up to and including £1.5 million or $2 million; 22% from £1.5 million or $2 million up to and including £6 million or $8 million; and 15% for amounts exceeding that threshold. According to a press statement provided to ARTnews, these adjustments were made“following an internal business review.” This change aligns Christie's fees with those of Sotheby's, which raised its own rates in February. Christie's last adjusted its fees in September 2025, when it began charging 27% on amounts up to £1 million ( $1.5 million ); 22% from £1 million ( $1.5 million ) to £6 million ( $8 million ); and 15% on amounts above that.

Bonhams will also increase its fees, with new rates taking effect on October 1. These are the first changes to its fee structure since 2023 and will impact all sale categories except wine and whisky, coins and medals, and cars and motorcycles. The revised rates introduce an additional price band:

30% on the first £25,000 or $35,000 of the hammer price 28% from £25,001 to £500,000 ( $35,000 to $750,000 ) 25% from £500,001 to £1 million ( $750,000 to $1.5 million ) 21% from £1 million to £5 million (from $1.5 million to $7.5 million ) 14% above £5 million ( $7.5 million )

Previously, Bonhams charged 28% on the first £40,000 ( $50,000 ) of the hammer price; 27% from £40,001 to £800,000 ( $50,000 to $1 million ); 21% on £800,000 to £4.5 million ( $1 million to $6 million ); and 14.5% on amounts exceeding £4.5 million ( $6 million ).

Seth Johnson, Bonhams' Chief Executive Officer, stated in an announcement,“We at Bonhams want to be able to continue to offer our clients the level of specialist expertise that they rely on for authentication, provenance, and valuation across a wide range of price points, as well as further invest in improving their digital experience. This is the first change we have made to our buyer's premium in more than three years, and the adjustments have been made to properly reflect the value that Bonhams as a global auction house provides.”

Phillips also revised its fee structure in 2025, at which time it introduced“priority bidding.” This system allows bidders to submit binding written bids prior to a sale, receiving a significantly reduced buyer's premium in return.

Source: ARTnews

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